the growth of the railway Flashcards
how much track was laid between 1871 and 1900?
170,000 miles
what were the obstacles when building the railroads?
weather and terrain
what did Cornelius and William Vanderbilt do to improve the railway industry?
- invested in the railway boom
- established a standard rail gauge
- first to replace the iron with steel
- ruthless manipulation of capital and labor
- brutal hanging of strikes
- conflict with the rail barons (Erie railway)
how did the growth of the railway affect the market for goods?
- expanded available markets for goods
- made a wider variety of goods easier to obtain
- caused 2 fold effect on products: seller found new markets and individuals on the frontier we able to obtain hard to get things
how did the growth of the railway affect society?
- created an interconnected society with other countries because of decreased travel time
- union and central Pacific rails joined to make the transcontinental rail in 1869
- frontier could be extended with a greater movement of population
how did the growth of the railway affect businesses?
- helped people start businesses and enter the market
- extended market allowed people to produce and sell goods (otherwise there wouldn’t be enough demand)
- allowed shipment of goods to greater areas
- causes greater demand and makes additional goods viable
how did the growth of the railway affect tycoons?
- could make or break towns and cities depending on whether they had a rail
- helped to support industries like oil and steel
what was Vanderbilts fortune when he died in 1877?
100 million
when was the conflict between the rail barons?
1868
when was the transcontinental rail made?
1869
when was the economic depression?
1873
how many laborers were unemployed in the winters of 1873-74?
1 million
how many cities had a population of 50,000 before 1860?
16
what was the population of Chicago in 1850 and 1890, and why?
- 30,000 AND 1 million
- meatpacking and steel production industry
when was the homestead act?
1862
